Briefs

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In session

EGYPT'S economic courts are finally up and running. As of 1 October, these specialised courts began to look into economic disputes, hear cases and conduct criminal trials. Economic courts, established under Law 120/2008, are welcomed as a vital addition to legislation governing the economic activity in Egypt. Their creation is intended to ensure speedy settlement of disputes by qualified judges. The courts will look into disputes emanating from 18 laws including laws on bankruptcies, the capital market, intellectual property, consumer protection, investment, insurance and telecommunications.

Minister of Investment Mahmoud Mohieddin has been quoted as saying that, "the new law will improve the business environment since the quality of litigation procedures in investment and economic cases is a major criteria for measuring the effectiveness of the investment climate." Prior to the creation of economic courts, economic and commercial disputes were reviewed by the traditional courts, which often meant years of litigation.

A more efficient ENCC

MONA El-Baradei, professor of economics and former dean of the Faculty of Economics at Cairo University, joined the Egyptian National Competitiveness Council (ENCC) as executive director, starting 1 October 2008. Her position, that of executive director, was created especially for her.

The ENCC is a relatively young institution. Its mission is to encourage efforts to improve Egypt's competitiveness and to inform both public opinion and the business sector to just how to prioritise relevant efforts. Since its inception, it has issued four reports on Egyptian competitiveness. The fifth report covering 2007/08 has yet to be released.

To boost its outreach and efficiency, ENCC has established a series of specialised councils in different sectors. These councils aim at addressing factors affecting competitiveness in each sector, in an attempt to address the obstacles to improved performance.

The first two specialised councils are the Tourism Competitiveness Council and the Human Resources Competitiveness Council. The latter aims at upgrading Egyptian human resources abilities to meet international challenges.

Managing migration

AN ARAB Regional Expert Meeting on Regular Migration for Development was set to end today in Cairo. Organised by the League of Arab States and the International Organisation for Migration (IOM), in coordination with the Egyptian Ministry of Manpower and Migration and the United Nations Population Fund (UNFPA), the meeting was convened under the title Secure and Regular Migration can Achieve Stronger Development Impact.

The two-day meeting aimed at developing a common Arab strategy for the 2008 Global Forum on Migration and Development (GFMD) to be held in Manila from 27 to 30 October 2008. The meeting included a presentation of country reports from the delegations of Arab League member countries and contributions from international and local experts. The experts also discussed topics likely to be raised at the GFMD, including best practices to combat irregular migration, ways to minimise the negative consequences of migration, and ways to optimise its developmental impact in the Arab world. Participants also examined the role of the Regional Consultative Processes in migration management.

The meeting was a chance to discuss the outcomes of the 2007 GFMD held in Brussels and the Abu Dhabi Ministerial Meeting, or Abu Dhabi Dialogue, which took place in the United Arab Emirates on 21-22 January 2008.

Life-long commitments

DURING the visit late last month of IBM Chairman Samuel J Palmisano, the company made a series of strong commitments to the Egyptian economy. The technology firm pledged to build a nanotechnology research centre in Egypt at an investment in the range of $30 million. It will be equipped it with cutting-edge equipment and lab facilities. Egyptian and IBM expert scientists and engineers will work side by side on advanced nanoscience and nanotechnology programmes. Nanotechnology is the field of applied science focussed on the reliable and repeatable design and control of the structure of very small objects. A nanometre is roughly 100,000 times thinner than a human hair.

Whilst in Egypt, the IBM chairman also signed an agreement to establish an IBM Academy to introduce services science, management and engineering (SSME) into Egyptian universities' curricula. SSME is a new academic discipline designed to develop the skills required in an increasingly service-based global economy. Palmisano was on a visit to Egypt to inaugurate a new IBM Global Service Delivery Centre -- the first of its kind in the region. It currently employs 100 professionals, but it is expected to grow to 1,000 employees within the next few years. IBM has been operating in Egypt since 1954 and has based technology development operations in the country for almost 25 years.